Ripple Wins ‘Most Prestigious’ Payment Award

• Ripple won an award in the UK days after the court rejected the SEC’s motion for interlocutory appeal.

• The XRP price is still in “red” in the last seven days, but has recorded a bullish market sentiment and a 24-hour positive gain. 

Ripple has won a prestigious award after being recognized for having the “best use of digital currencies and assets in financial services” at the just-ended PAY360 Awards events held in the United Kingdom. 

Ripple, you’re the leader in digital currencies/assets in financial services! 🏆 Congratulations on your win at the PAY360 Awards. Let’s also recognize the entire industry for embracing digital finance.

Sendi Young, Managing Director of Ripple’s European operations labeled the event as one of the most prestigious payment awards in the country. It is also important to note that the recent PAY360 award was the 16th edition. Several senior executives from over 950 companies were welcomed. On top of that, payment giant Mastercard reportedly sponsored the event with more than 300 nominations across different tracks received. 

In addition to Ripple, Fireblocks was recognized as the best blockchain infrastructure provider. Visa was awarded as the best financial crime prevention solution with Amal Microfinance Bank (AMB) winning the best financial inclusion payments initiative. This award comes with several advantages including accessing a broad marketing campaign that could reach 250,000 payment professionals.

Just recently, Ripple won two awards at Juniper Research’s Future Digital Awards for Fintech and Payments 2023. The blockchain company was given the Sustainability in Fintech Innovation of the Year award coupled with the “CBDC Innovation” award. The first award was given for its Palau Stablecoin which is issued on the carbon-neutral XRP Ledger. In May, it also won two awards at the Digital Currency Conference 2023 awards. 

Ripple Secures Vital Win in Court

This award comes after the US district judge Analisa Torres rejected the interlocutory appeal by the US Securities and Exchange Commission to the ruling that recognized the secondary sales of XRP as non-securities. According to the court, the Commission failed to back its application with a sufficient basis for the court to review its previous decision. On top of that, the Commission has been mandated to appeal any of the decisions after other matters in the lawsuit are ruled. It was reported that the SEC had some inconsistencies in its arguments throughout the case. 

Ripple’s CEO Brad Garlinghouse is reported to have an XRP tattoo containing the date of the July ruling. He stated:

The SEC’s request to file an interlocutory appeal is DENIED. I’m not a lawyer but it seems the Court just told the SEC: You asked me to apply the “Howey” test, I did, and like it or not, you lost.

According to the Chief Legal Officer of the blockchain company Stuart Alderoty, the current decision by the court shows that the July 13th ruling still stands. This means that Bitcoin and XRP have been legally cleared as non-security crypto assets. 

Following these developments, the market sentiment around the XRP token has become bullish with a current price of $0.525248. In the last seven days, XRP has declined by 1.3 percent. However, the price has made a 1.11 percent surge in the last 24 hours with a safety score of 66/100. 

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